Opendoor upgraded to Hold after selloff at Gordon Haskett

Gordon Haskett upgraded Opendoor Technologies to Hold from Underperform with a price target of $2.25, down from $2.50. The firm says the shares now better reflect the housing market “woes’ after falling 45% since its downgrade to Underperform on July 19. While Gordon Haskett remains cautious on the housing market overall, it sees a more balanced risk/reward dynamic as it relates to the shares. Opendoor is now trading at more reasonable valuation levels relative to peers as investors are more appreciative of housing market challenges that will likely persist well into 2024, the analyst tells investors in a research note.